The Empire District Electric Company (NYSE:EDE) announced today a filing with the Kansas Corporation Commission (KCC) of a Unanimous Settlement Agreement with respect to the joint application for approval of an Agreement and Plan of Merger filed on March 16, 2016. The Unanimous Settlement Agreement is subject to approval by the KCC.
As a condition of the Unanimous Settlement Agreement that was reached with the staff of the KCC, Empire’s pending rate case is to be withdrawn and current base rates are to remain in effect through January 1, 2019.
The agreement also provides that Empire may file a request to update the current Environmental Recovery Rider to include costs associated with the Riverton 12 Combined Cycle Project, which are expected to be approximately $1.2 million.
Regulatory approvals for the transaction have been secured at the Federal level as well as in Missouri, Oklahoma, and Arkansas. A decision from Kansas regulators is due no later than January 10, 2017, with an expected transaction close early in 2017.
Based in Joplin, Missouri, The Empire District Electric Company (NYSE: EDE) is an investor-owned, regulated utility providing electric, natural gas (through its wholly owned subsidiary The Empire District Gas Company), and water service, with approximately 218,000 customers in Missouri, Kansas, Oklahoma, and Arkansas. A subsidiary of the company provides fiber optic services. For more information regarding Empire, visit www.empiredistrict.com.